Morning and good evening. Thank you all for joining this conference call. Now we will begin the Conference of the Fiscal Year 2024 Second Quarter Earnings Results by LG Uplus. This conference will start with a presentation, followed by a divisional Q&A session. Our call is being webcasted on our homepage so that you can follow the conference simultaneously. Today's conference call will be presented for one hour, and due to the time schedule, we would appreciate if your questions are limited to two per person. Now, we will begin the presentation on LG Uplus' second quarter of fiscal year 2024 earnings results. [Foreign language] Good afternoon, I am Sung Hyun-mo, Head of IR at LG Uplus. Thank you very much for joining our second quarter 2024 earnings presentation. Please refer to the second quarter earnings presentation, which we've previously circulated, and note that revenue breakdown of each business and details of operating expense are on the basis that excludes LG HelloVision, for the benefit of the ease of comparison. Also as a disclaimer, all of the projections we are providing today may change, subject to macroeconomic backdrop. We will also be providing consecutive interpretation for the benefit of our overseas investors. We will first begin with our second quarter performance highlights, which will be followed by a Q&A. With that said, I will turn it over to our CFO, Yeo Myung-hee, who will run through our second quarter 2024 earnings and business results. [Foreign language] Good afternoon, this is Yeo Myung-hee, the CFO. Thank you to everyone for joining LG Uplus' second quarter 2024 earnings conference call. Last May, we launched a new brand slogan, "Growth Leading AX Company," showing our commitment to lead at the very forefront of digital innovation with a clear focus on AI-driven digital transformation, DX. We will transform into the most innovative AX company, driving growth for our customers by bringing AI to all of the domains of LG Uplus businesses, including CX, customer experience, DX, digital transformation, and the platform. Most recently, we rolled out ixi-GEN, which is a generative AI specialized in telecommunications. ixi-GEN is a small LLM, sLLM that is, trained with Uplus' telecoms platform data on the foundation of EXAONE of LG AI Institute. The model is equipped with unrivaled competitiveness in terms of efficiency, security, and reliability, thus enabling an effective AI-based services in various different business domains of LG Uplus. As such, LG Uplus has been steadfast at internalizing AI technology so that we may offer greater value proposition to our customers. With that said, I will now run through the financial highlights for the second quarter of 2024. [Foreign language] Second quarter service revenue reported a growth of 1.6% on consolidated basis and 2.1% on standalone basis, year-over-year. First half separate basis, service revenue was up 2.4% on year, overachieving the guidance which we shared at the start of the year. Consolidated operating profit for Q2 was down 11.8% on year, but up 15% Q-over-Q, reporting KRW 254 billion, while net profit was down 22.8% year-over-year, but up 26.2% on quarter, reporting KRW 164.6 billion. Consolidated Q2 EBITDA increased 0.4% year-over-year, reaching KRW 920.2 billion, sustaining an uptrend in operational cash flow. [Foreign language] That was an update on business and financial highlights. We now move on to each business segment and their respective results and outlook. [Foreign language] First is the mobile business, and I'm Lee Jae-won, Head of MX Digital Innovation. Second quarter mobile service revenue was up 1.7% year-over-year, reaching KRW 1,520.1 billion. Total mobile subscription count was up 25.6% year-over-year, reaching 27,223,000. Out of this, handset 5G subscription count was at 7,413,000, accounting for 67.7% of handset subscription count. MVNO subscription count was up 51.5% year-over-year, recording 7,386,000, continuing its high uptrend. Q2 marketing spend fell 3.3% year-over-year to KRW 521.7 billion on the back of effective cost savings following the effort behind digitalization of telecom services. [Foreign language] During the first half of 2024, LG Uplus continued its efforts behind digitalization of telecommunications. Through a sweeping revamp of our digital telecom platform, Nerget Telecom rate plans, we strengthened customized services, and we plan to maximize digital revenue and digital subscribers through the new Telco Life platform. We will also push forward with the data flywheel strategy, improving on services through high quality data collected via the digital platform, and grow the share of online customers by offering those using the digital platform with more benefits and better services. This will enhance customers' experience of digital telecom services and maximize operational efficiency, thereby creating new business opportunities, which will help strengthen our business competitiveness. [Foreign language] Next is our smart home business, and I'm Park Chan-sung, Head of Homeniverse. I will run through the key business highlights for the smart home business. [Foreign language] Second quarter Smart Home revenue posted KRW 618.2 billion, up 0.5% year-over-year. Due to the base effect of one-off revenue last year, Q2 IPTV revenue declined 0.6% year-over-year, but on sustained uptrend in subscribers, there was 0.2% Q-over-Q growth, with revenue reporting KRW 334.9 billion. Internet revenue was buoyed by solid Giga Internet growth, increasing 6.5% year-over-year, reaching KRW 283.3 billion. [Foreign language] IPTV subscriber count posted 2.3% Y-o-Y growth, reaching 5,518,000, and internet subscribers increased 4.4% Y-o-Y, recording 5,269,000. LG Uplus last June showcased IPTV subscription product called the Uplay, offering popular content from both home and abroad. Uplay is a U+tv subscription product offering around 70,000 titles and programs, including global OTT's original exclusive content, movies, drama series, and animation across the entire genre. [Foreign language] We will continue to broaden the content domain to bring content that could only be watched through overseas OTTs in the past, so that viewers can enjoy the content easily through our Uplay. In order to meet customers' high expectation, we will explore high quality content and provide U+tv's unique and distinct customer value. [Foreign language] Next is on our enterprise infrastructure business, and I'm Park Sung-yul, Head of Enterprise Business. I will present on the second quarter highlights for the enterprise infrastructure business. [Foreign language] Q2 enterprise infrastructure business showed balanced growth across all segments, driven by IDC mostly, posting 5.4% year-over-year increase, reporting KRW 431.5 billion. IDC business posted 15% year-over-year growth to KRW 91.7 billion, on rise in traffic from AI expansion across the industry. Solution business was up 2.7% year-over-year to KRW 130.8 billion, driven by new business growth, including the connected car business. Enterprise line recorded 3.3% year-over-year growth, reaching KRW 208.9 billion, continuing on with a robust growth trend. [Foreign language] There was also a meaningful achievement in smart mobility during the second quarter for LG Uplus. We established AI-based intelligent transportation system in Cheonan City, laying the cornerstone for a future system for autonomous driving and next generation information and transportation system. Intelligent transportation system utilizes information and communication technology to enhance safety and efficiency of the transportation and the traffic system. LG Uplus built 5 advanced solutions across 13 major roads at Cheonan City, embarking on commercial services. [Foreign language] We will roll out series of customer experience CX innovation services, leveraging AI in the autonomous driving ecosystem and build safe and smart transportation system based on AI technology. [Foreign language] We also launched My Store Package AX Solution, which is a package that help manage various store solutions in an integrated manner, powered by AI. Small vendor customers can use My Store Package app to manage different store solutions, integrating and managing consumer data, using the solution, and use it for marketing purposes as well. We expect to be able to offer new customer value through this service offering. [Foreign language] Also, on July the second, we showcased All-in AI, which is our mid- to longer-term growth strategy for B2B, powered by AI technology. We will be focusing on enterprise domain, including the AI data centers and on-device AI and platform domain, leveraging generative AI, ixi-GEN, and the data domain, which is essential for AI training to upscale AI application services. [Foreign language] All-in AI strategy is about focusing our company-wide capabilities into AI and to use AI in all of its services, which shows the commitment of LG Uplus behind growing together with our customers. Under this strategy of B2B AI, underpinned by infrastructure, data, and the platform domain, we will drive customer growth and make the leap as an AI provider. This ends the briefing by each business line, and now we will invite back our CFO to walk through the second half outlook. [Foreign language] During the first half of the year, LG Uplus drove fundamental enhancement of its core telco business and bolstered infrastructure of our core businesses, which led to service revenue growth above our previous guidance. [Foreign language] In the second half of the year, based on digital transformation of fixed line and mobile businesses, we will continue to manage costs rigorously and sustain profit-driven operations. For enterprise infrastructure business, including IDC, SOHO, and AICC business, we plan to improve top line growth, fueled by accelerated growth. [Foreign language] Also, we will bring success to our key AI projects, including the B2C AI call agent, B2B enterprise AICC, and our internal customer service center AI, in order to make the leap as growth leading AX company and will generate tangible results. Dear investors and analysts, we ask for your continued interest in the company, and we at LG Uplus will endeavor to enhance corporate and shareholder value as we go forward. Thank you. This ends the presentation on the second quarter earnings, and we will be happy now to take your questions. Now, Q&A session will begin. Please press star one, that is star and one, if you have any questions. Questions will be taken according to the order you have pressed the number star one. For cancellation, please press star two, that is star and two on your phone. The first question will be provided by Hoe-jae Kim from Daishin Securities. Please go ahead with your question. [Foreign language] Yeah. Thank you. I'm Kim Hoe-jae from Daishin Securities. I would like to ask you two questions. First question is that we see players within the industry are revisiting their business portfolio, and I do understand that the investment into the new business area, of course, is important, but as important as that is phasing out some of the incumbent or the current businesses that the companies are operating. So I would like to understand as to whether LG Uplus also has plans to phase out any of your current businesses. So that's my first question. Second question relates to your, an update on your value up initiative. I presume that the growth that we will see in year 2024 is going to be more limited compared to the previous year. So my question is that will you go right into strengthening your shareholder return, or will you wait a little more to further strengthen your earnings capacity and then later on increase and maximize the shareholder return? So I would like to understand your approach. [Foreign language] Thank you very much for that question. This is the CFO. I will respond to your first question about the new business initiatives. We continue to conduct gate reviews, gatekeeping reviews, and if on a needs basis, we also look at the potential risks related to these new initiatives. In terms of our approach towards new business endeavors as well as new service initiatives, basically, it has two important focuses, driven by AX and DX in ultimately achieving digitalization of telecommunication services and on gaining B2B growth engines. So in terms of the digitalization of telecommunications, basically it is, it has two objective. The first one is by strengthening the digital subscription channel, we want to be able to drive subscriber volume growth, but at the same time, streamline the distribution channel so that we can bring about quality improvement in cost. So as such, going forward, we are expecting to see more growth and expansion in the online subscription share. And as you know, we've also released a new type of a digital scheme under the name of Nerget, and we believe that we will be able to build an integrated application and application ecosystem that could bring true enhancement to the usability for the benefit of our digital customers. And hence, we are going to further strengthen onboarding of our subscribers through the online channel. [Foreign language] We also think that a very differentiated content offering through X+U is going to really support and contribute to subscriber retention. The second approach is for us to secure a growth engine in the domain of B2B business. We want to be able to expand services that could cater to the AI demand, as well as for the demand for digital transformation. We will focus our capabilities on AICC and DX solutions for our SOHO customers, underpinned by our IDCs and by making a selective entrance into each of the domain where we have competitive edge. We are, at this point, planning on providing very unique and differentiated service offerings. [Foreign language] Also, in the area of EV charging business, in the beginning of June, we set up a JV entity and under the name of LG Uplus VoltUp. And in order for us to secure more investment resources, both LG Uplus and Kakao Mobility have plans to make additional, respectively, KRW 25 billion each in terms of investment into this entity. We believe that this entity will have independent decision making authority, under which they will be able to make very swift decisions and operate their business effectively. Our objective is to be top three player in by 2027 in the slow charging market. So that is our objective in the EV charging market from a mid to longer term perspective. [Foreign language] Now, regarding your question about the Value Up program, we see eye to eye with regards to the overall direction that the government has presented and the purpose of such Value Up programs. With that in mind, we're very closely monitoring the direction of the government policies, and we are very positively reviewing, participating in the program. [Foreign language] So we're taking this opportunity to revisit our formula and calculation for calculating the capital cost. We are also planning on improving the investment decision making process and at the same time studying the shareholder return policies of major companies, both domestic and overseas. And in light of the overall level of debt, debt ratio, debt to equity ratio, as well as different shareholder return measures such as buyback of shares and cancellation, we're incorporating all of those different options and at this point, coming up with the overall plan so that we may maximize shareholder value. [Foreign language] The management of the company have set total shareholder return rate, TSR, as our key business objective, which brings together the share price and the dividend yield of our shares. We're also focusing on striking a right balance between our long-term growth and progressive shareholder return. Before the end of the year, we will complete our plan on shareholder return and the corporate value enhancement plan. Our objective is to disclose that before the end of the year so that we can communicate that information to you. Next question, please. [Foreign language] The following question will be presented by Kim Joonsop from KB Securities. Please go ahead with your question. [Foreign language] Well, thank you for taking my question. I am Kim Joon-sup from KB Securities. My questions relate to IDC and AI. First, on IDC, I saw in the presentation slide that your Paju AI data center is up and running. Would like to understand what the total utilization rate is and what financial impact your data center will have? Second question is that I remember reading a news bite on the potential release of ixi-O, which is the call agent, the AI-driven or AI-powered call agent. Would like to get an update as to how this is progressing and what potential impact you think this will have on your business going forward? [Foreign language] Yes, hello, I am Ahn Hyeong-gyun, SVP of B2B AI Business Group. I will respond to your question. You mentioned the IDC center located in Paju, and yes, you are correct. As per the disclosure that we made back in April, in order to build new IDC at Paju, we have purchased land as well as building. And basically, this was a decision made so that we could preemptively respond to data center demand that is currently accelerating in terms of its growth on the back of the expansion of the generative AI market and cloud-based transformation. [Foreign language] Once the Paju IDC operation is up and running, LG Uplus is going to be the only, company that will have three hyperscale level commercial IDCs in Korea. At this point, we're going through the review stage, hence, we will not be able to provide you with specific information on the overall size as well as the specification. But once the design review is complete, we will come back to you with more information. [Foreign language] Now, responding to your question about the utilization, as of today, LG Uplus owns seven data centers in Seoul and Gyeonggi area, and basically, the capacity that we have is 350 MW hour. This is based on KEPCO's electricity reception capacity basis. Utilization has been continuously up trending for IDC. It's been showing a double-digit growth, double-digit growth. [Foreign language] In particular, we opened Pyeongchon number two center, and the companies are continuously moving into the IDC center, and we believe that this is going to continuously drive our top line growth. Hello, this is Lee Jae-won. I'm the EVP of MX Digital Innovation, and I will respond to your question on ixi-O. [Foreign language] Now, at this point, we are, yes, developing the ixi-O with a target of releasing it in the fourth quarter of this year. What we are doing is applying AI to what a telco does best, which is the voice call, improving the convenience as well as strengthening the security in the voice call arena. The services at this point are being prepared with that objective in mind. With regards to the specific service scene, we will be able to share that information once we near the launch date. [Foreign language] Now, if I talk about the key differentiation for LG Uplus, based upon the large language model, EXAONE, which was developed by LG AI Institute, we are cooperating and collaborating with LG AI Institute, using the EXAONE, and basically have developed ixi-GEN, which is a training model, which has been trained with the data that LG Uplus has collected via its telco and its platforms. That really distinguishes us from others. [Foreign language] ixi-GEN is an AI model that is lightweight, therefore, it can flexibly be applied to various different mobile communications applications. And we will continue to implement very unique and differentiated services underpinned by this technology. Based on this, we will be able to provide better convenience, everyday convenience to our mobile and home service users. And by taking a step further, we will be able to expand this into the B2B area and help improve business productivity. [Foreign language] If there are no further questions, we would like to close the second quarter 2024 earnings presentation by LG Uplus. If you have any additional questions, please feel free to contact us at the IR team. Once again, thank you very much for joining us this afternoon.